INDIANAPOLIS (WTHR) – The Old Southside is getting a lift, one that comes with federal dollars to help with revitalization and economic development.

On Wednesday morning, Mayor Joe Hogsett will designate it a “Lift Indy” neighborhood, the city’s second. The program is aimed at transforming the city’s urban core neighborhoods.

The Old Southside/Stadium Village area, just south of downtown, will receive roughly $4 million in grants over the next three years to go toward affordable housing, placemaking, infrastructure and other quality of life improvements. The Old Southside was one of three neighborhoods competing for the designation.

Last year, Monon16 area became the city’s first Lift Indy neighborhood. It’s located in the Kennedy-King neighborhood and includes the area surrounding the intersection of 16th Street and the Monon Trail. The Monon16 website describes the area as “quickly becoming a resilient and inclusive neighborhood” with $50 million in current projects in the area.

The mayor will name the Old Southside Lift Indy neighborhood during at 10 a.m. news conference at Kelly Park, adjacent to the Concord Neighborhood Center. A walking tour of the area will follow. Sources who did not want to be identified prior to the announcement, said they’re thrilled with the selection and chance to make some significant improvements in their neighborhood.